On October 2, iShares Semiconductor ETF rose 3.01% in regular trading, trading at $593.16/share, with turnover of $829 million. The Philadelphia Semiconductor Index surged 3% in tandem, with ARM up over 4%, NXP, Intel, AMD, Applied Materials, and Broadcom each up over 3%, and NVIDIA up 2.8%.
Multiple catalysts converged to drive the semiconductor sector higher. U.S. September non-farm payrolls came in at just 29,000 versus expectations of 90,000, causing short-end Treasury yields to drop sharply and rate hike expectations to cool significantly — a direct tailwind for high-valuation tech and AI-related assets. Meanwhile, Morgan Stanley reinstated NVIDIA as a Top Pick, reinforcing bullish sentiment on the AI chip leader, whose forward P/E has compressed to approximately 14.5x — a decade low.
Additionally, Broadcom's banking syndicate began raising $600 billion in new financing to fund AI chip purchases for clients including Anthropic, with $42 billion in senior secured debt and $18 billion in junior debt led by Blackstone. This further validates the sustained capital commitment to AI infrastructure buildout, benefiting the broader semiconductor supply chain.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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